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Experian: 40% of Americans won't change behavior for discounts
Offering a deal or a discount is a good way to engage and convert new customers, building a strong list of customers, right? Perhaps, not. At least according to new data out that indicates a growing number of American shoppers (40%) aren't changing their behaviors based on discounts.
Brands focusing on deals and discounts may want to take a closer look at new data out from Experian Marketing Services - namely that discounts aren't influencing many consumers to change their behavior. According to the "Deal Seekers" report, released this week, discounts and deals may actually harm brands more than they help because these marketing options are 'confusing' to shoppers.
"It is critical that marketers know which customers want a deal, who needs a deal and who outright rejects them," said John Fetto, senior analyst, marketing and research, at Experian Marketing Services. "Knowing the difference can help marketers tailor deals and discounts for the right audience, in the right channels. Further, these insights can also increase brand advocacy by strategically rewarding a brand's most socially connected and influential shoppers."
The report six categories of deal seekers which may help brands better use - or toss - discount marketing options:
• Deal-Seeker Influentials - those who constantly look for deals or hot items. These shoppers are social active and never expect to pay full price
• Offline Deal-Seekers - those who focus on newspaper inserts and flyers to find the best options. 63% of these say they automatically head for clearance aisles/racks when shopping for everything.
• Deal Thrillers - those who are both brand loyal and who want a great deal. This segment is most likely to 'help' brands because most (57%) say deals and discounts 'are unlikely' to encourage them to try new stores.
• Deal Takers - these shoppers are looking for deals but don't influence their social circles, they are both likely to try to stores based on deals and to click social media links.
• Deal Indifferents - those shoppers who 'are unlikely' to change their behavior because of a deal and will only use coupons if there is a specific item them are in-market for.
• Deal Rejectors - those who don't like shopping and simply want to buy their goods and get out of the store. They distrust social media 'news' about deals; they do spend money and are brand loyal, however.
Image via Shutterstock
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